RiskMgmt_AXA_What_Insurance_Is_QA.pdf - 1 RISK MANAGEMENT...

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1 1 RISK MANAGEMENT IN AXA What insurance is Questions and answers David Veredas The aim of this class is to review the key learnings using the 2016 annual report of AXA. Before you start, it is good to read about the company and understand its business units and models. A quick overview of this can be found in the Group profile (pages 4 and 5), the CEO and Chairman’s messages (pages 6 and 7) and Chapter one “The AXA Group” (pages 9 to 25). If you need help with the terminology, see the glossary in Appendix VI (page 458). QUESTION 1: What is the proportion of life, non-life, asset management, and banking segments in AXA in 2016? ANSWER 1: Page 5 shows the summarized information. In terms of underlying earnings, 39% of the business comes from non-life (also known as Property & Casualty), 34% comes from Savings and Asset Management, and 27% comes from Protection and Health. Mind this classification is not the standard non-life vs. life. 1 More information is in pages 17 – 25. Life and Savings segment: include individual and group saving products, as well as a life and health products for both individual and commercial clients: “Life & Savings products offered by AXA include term life, whole life, universal life, endowment, deferred annuities, immediate annuities, and other investment-based products. Health products offered include critical illness and 1 Underlying earnings are adjusted earnings excluding Net realized capital gains or losses attributable to shareholders. Adjusted earnings represent the net income before goodwill, exceptional operations, profit or loss on financial assets & derivatives, and integration and restructuring costs. See page 458 for details.
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2 2 permanent health insurance products.” The total written premiums amount to 60.2bn. More information is in page 19.
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  • Spring '16
  • AXA, The AXA Group

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